AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.

Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the FBM KLCI reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.

The Week Ahead: Corporate earnings, trade data and US Fed minutes in focus

ARTIFICIAL intelligence (AI) is set to be the next frontier in the fund management industry, with the aim of offering better returns to investors. London-based Arabesque Holdings sees the power of AI continuing to evolve as the financial investment process undergoes radical change.

The ...

Tech: Arabesque empowering fund management with AI

IN the first four months of the year, Malaysian real estate investment trusts (REITs) have announced six acquisitions totalling RM2.65 billion as they look to beef up their portfolio of assets following last year’s tepid deal flow. However, getting their hands on higher-yielding assets could prov...

Appetite for REIT acquisition to improve, but landing decent-yielding assets a challenge

HAVING priced in the ongoing Middle East conflicts, Malaysia’s stock market has been on the rise with local institutions absorbing shares dumped by foreign investors. The FBM KLCI has risen 8% since the beginning of this year. The benchmark closed at 1,569.25 points last Thursday.

Fund ...

Local institutions give market a lift amid foreign selling 

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

UK’s Labour to impose VAT on boarding fees, private education — FT

HAVING identified artificial intelligence (AI) opportunities in Malaysia, SNS Network Technology Bhd now expects a meaningful contribution from its newly ventured data centre fit-out business segment.

Besides selling AI super servers, the ICT system and solutions provider is also involv...

SNS Network aims to tap country’s data centre boom through new venture

THUS far, 2024 has been a good year for investors, as most regional indices have chalked up positive returns, including Malaysia’s FBM KLCI, which had risen more than 7% as at April 8. Within the region, Japan’s Nikkei 225, which is up 20% year to date, has been the best-performing index.

...

Market valuations under closer scrutiny after strong bull run, says Pheim 

This week’s key focus on the local front will be on Malaysia’s advance gross domestic product (GDP) estimate for the first quarter of 2024 (1Q2024), which is scheduled to be released on April 19.

The Week Ahead: Malaysia 1Q advance GDP estimate, March trade data in focus

DXN Holdings Bhd’s share price is down 10.7% since relisting last year at an IPO price of 70 sen — an underperformance that the group attributes to investors’ insufficient knowledge of its business operations.

Indeed, founder and non-independent executive chairman Datuk Lim Siow Jin ack...

Unfazed by share price underperformance, DXN charts expansion in Latin America and North Africa

An infected blood scandal in Britain was no accident but the fault of doctors and a succession of governments that led to 3,000 deaths and thousands more contracting hepatitis or HIV, a public inquiry reported on Monday.

UK's infected blood scandal could and should have been avoided, inquiry finds

Wheat is one of the world’s most-vital crops. The grain is used in staples like bread, couscous, chapatis and noodles — and high prices for the commodity have a long history of kickstarting unrest.

US wheat comes to rescue market plagued by Russian shortfall

The cancellation of the permit for popular comedian Sharul Channa to perform in Malaysia by the Central Agency for Application for Filming and Performance by Foreign Artistes (Puspal) was made after taking into account police reports lodged over an old video of hers that allegedly touched on race, religion, and royalty (3R) issues, says Communications Minister Fahmi Fadzil.

Cancellation of Sharul Channa's permit took into account police reports on video related to 3R issues — Fahmi

KUALA LUMPUR (May 20): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Hubline, Public Bank, Batu Kawan, KLK, Menang Corp, Kotra, Media Chinese, FGV, Magma Binasta, Bright Packaging, Annum, Pertama 

China is committed to deepening collaboration with Malaysia across various fields including economics, cultural exchange, tourism, education, and science and technology, said Chinese ambassador to Malaysia Ouyang Yujing.

China ready to broaden partnership with Malaysia across various fields — envoy

Malaysia and the People's Republic of China have achieved significant milestones in the half-century of diplomatic relations, said Deputy Communications Minister Teo Nie Ching.

Malaysia-China diplomatic relations have achieved significant milestones, says Teo

Annum Bhd’s (KL:ANNUM) largest shareholder, Datuk Seri Chin Kok Foong, has disposed of his entire 14.83% stake in the Practice Note 17 (PN17) wood-based products manufacturer.

Annum’s largest shareholder Chin Kok Foong exits group after selling 15% stake to Ageson's Larry Liew

Iranian President Ebrahim Raisi's death in a helicopter crash upsets the plans of hardliners who wanted him to succeed Supreme Leader Ayatollah Ali Khamenei and will stir rivalries in their camp over who will take over the Islamic Republic when he dies.

Death of Iran's Raisi could stir race for Khamenei succession, say insiders 

A court in Sabah has struck out a man’s claim for RM24.92 million damages against FGV Holdings Bhd (KL:FGV) for alleged fraudulent transactions and trespass relating to land in the state held under a native title.

Court strikes out man’s RM25 mil trespassing suit against FGV

Engineering, procurement, commissioning and construction (EPCC) work has yet to begin on Toyo Ventures Holdings Bhd’s (KL:TOYOVEN) thermal power plant project in Vietnam, said Sunway Construction Group Bhd's (KL:SUNCON) stock exchange disclosure on Monday.

EPCC work yet to start on Toyo’s Song Hau power plant, says SunCon

Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.

Bumiputera agencies to move away from giving out 'free money', says Rafizi

The government has decided to once again extend the freeze on foreign worker applications, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.

Govt extends freeze on foreign worker applications, no new quota

Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labour costs and a disastrous unlimited shrimp promotion. 
&nbsp; 
The Orlando, Florida-based company filed for Chapter 11 protection on Sunday (May 19), listing assets and liabilities of US$1 billion (RM4.68 billion) to US$10 billion each in its bankruptcy petition. The filing allows the company to keep operating while it works out a plan to repay creditors.&nbsp;

Red Lobster chain goes bankrupt after unlimited shrimp deal

TWO days can mean a lot in the world of high finance. The minority shareholders of Kuchai Development Bhd (KL:KUCHAI) learnt this the hard way.

Last Tuesday, the shareholders of Kuchai approved a transaction to dispose of all the assets and liabilities in the company to Sungei Bagan Rub...

Kuchai shareholders missed out on bonanza by a mere two days 

Kuala Lumpur Kepong Bhd (KL:KLK), Malaysia’s third-largest palm oil producer by acreage, said on Monday its net profit fell 39% in the second quarter as the same quarter in the previous year was partly inflated by disposal gains.

KLK, Batu Kawan post lower 2Q earnings despite improved performance by plantation segment

Property development and management group Menang Corp (M) Bhd (KL:MENANG) has declared a special dividend of six sen a share as its quarterly earnings rose to a six-year high.

Menang declares six sen special dividend as earnings rises to six-year high

Sarawak-based shipping company Hubline Bhd disclosed to the local stock exchange that it is in talks with state-owned equity firm Ekuiti Nasional Bhd (Ekuinas) in regards to the potential acquisition of Orkim Sdn Bhd.

Hubline confirms talks to acquire Ekuinas' Orkim

Putrajaya is expected to roll out the multi-tier levy mechanism (MTLM) for foreign workers in January next year, according to Human Resources Minister&nbsp;Steven Sim Chee Keong.

Multi-tier levy on foreign workers to be implemented in January 2025, says HR minister

Sunway Construction Group Bhd (KL:SUNCON), or SunCon, on Monday reported a 16.4% year-on-year (y-o-y) increase in net profit for the first quarter, thanks to higher billings in newer projects.

Sunway Construction posts 16% rise in 1Q net profit, eyes more advanced jobs

Last week was a bad one for the world order. Russia made new military advances in Ukraine, and the US slapped punitive tariffs on Chinese imports. None of that spooked stock market indices, which reached&nbsp;record highs&nbsp;on both sides of the Atlantic.

Pricey stocks overlook the world’s troubles

Ehsan Bina Group has formed a partnership through a Memorandum of Understanding (MOU) with Maybank Islamic Bhd to extend a financing programme called HouzKEY to buyers of ForestHill Residences, a high-rise residential project located in Damansara Perdana, Selangor.

Ehsan Bina Group partners Maybank Islamic to provide financing solution

Here’s a quick look at some of the stories that made headlines today.



EVENING 5: Five things you need to know today

Palm oil player TSH Resources Bhd (KL:TSH) reported a 13% year-on-year increase in its first quarter core profit before tax (PBT) to RM34.8 million from RM30.8 million, amid lower fertiliser prices and reduced losses from joint ventures.

TSH Resources reports 13% rise in core 1Q PBT to RM34.8m

Electronics manufacturing services (EMS) firm Notion VTec Bhd (KL:NOTION) reported a net profit of RM14.04 million in the second quarter ended March 31, 2024 (2QFY2024), a turnaround from the net loss of RM7.77 million a year ago, driven by strong demand for the group’s EMS products.

Notion VTec logs RM14 mil net profit in 2Q amid stronger demand for EMS products

AS Malaysia finalises its Semiconductor Strategic Plan (SSP), expectations are high for a roadmap that will not only attract global players but also elevate local firms in the electrical and electronics (E&amp;E) sector.

The Ministry of Investment, Trade and Industry (Miti) is set to un...

The State of the Nation: Chipping in to move up the E&E value chain

The Court of Appeal (COA) has allowed two appeals filed by a 53-year-old former remisier with AmBank (M) Bhd and AmInvestment Bank Bhd for her expert witness to testify in a High Court trial to help her application in seeking alleged damages for wrongfully preventing her to continue to ply her trade as a remisier and for usurping her profit-generating apparatus.

Expert witness can testify on estimation of damages for ex-remisier, says COA

A summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI rises 0.67% to 1,627.50 on May 20, 2024

The International Criminal Court's prosecutor said on Monday he had requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu, his defence chief and three Hamas leaders over alleged war crimes.

ICC prosecutor Karim Khan said in a statement issued after over seven months of war in Gaza that he had reasonable grounds to believe that all "bear criminal responsibility" for alleged war crimes and crimes against humanity.

ICC prosecutor seeks arrest warrants for Israeli PM, defence chief and three Hamas leaders

Police are investigating whether several recent incidents involving the security of important national institutions and Members of Parliament are random acts or part of a coordinated plan.

Cops probing whether incidents involving important national institutions are random or planned acts, says Saifuddin

Pertama Digital Bhd (KL:PERTAMA) said it had been allowed to continue operating the digital court bail payment system known as e-Jamin by the government.&nbsp;

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